When looking up new projects and scrolling through social media, you may have seen a bunch of Mixed Development Projects advertisements flooding your screen. “Township Development,” “Integrated City Living,” “New-Launching Residential Phase,” and “Prime Location” featured prominently in the ads.
If you are a person who wants to know why mixed developments are on the rise in Malaysia currently, this guide is for you.
What is Mixed Development?
One of the most prevalent types of property developments in Malaysia is a mixed-use development, also known as an integrated development. It is the planning and development of a plot that includes residential as well as corporate, commercial, recreational, or even transportation infrastructure. It is possible to combine all of these into one as well. It welcomes the public and incorporates all components into one cohesive and efficient structure.
Mixed-use development is always regarded as a strategy to renew communities by establishing locations where people from different walks of life meet to reside, work, and entertain. Due to mixed-use development, it allows a greater variety of activities to coexist in a single space.
Mixed-use development is an integrated neighbourhood with just about everything you need for an exciting and modern lifestyle integrated into one massive complex.
You may have realized this already, but these projects often crop up in large urban regions like the Klang Valley. Therefore, you’re less likely to discover possibilities similar to these in rural areas anytime soon.
Yet, for the people who live in major cities in Malaysia, these advancements are opening up new doors for urban living. Most of the new mixed developments in Malaysia are located in the nation’s capital of Kuala Lumpur. Possibly, this is one of the factors causing the growth of luxury condominiums.
Types of Mixed Development
Horizontal Type
It’s a mix of single-use and mixed-use structures in the same development project that provides for a wide range of land uses. This concept has the advantage of sharing services and utilities while making it more straightforward to have a variety of applications within a short walking distance in less urban locations.
Vertical Development
This allows for a vast array of activities to take place in the same space. It is common for lower levels to have more public purposes, whereas upper floors tend to have more personal use and a private feel to them. For example, retail shops and restaurants might be found on the ground floor, professional offices on the second and third floors, and residential units on the fourth and fifth floors. Vertical mixed-use buildings are typical in metropolitan settings.
Walkable Development
It integrates vertical and horizontal use mixing in an area within five to ten minutes of the walkable distance of a community centre and offers a broad array of options.
Mixed Development: The Reason Behind The Popularity
Malaysia is home to many mixed development projects currently. Among the reasons is because a large fraction of the younger generation emphasizes convenience and ease of access to just about anything. Mixed-use development also offers greater efficiency by making optimal use of land and infrastructure.
In addition to the limitless possibilities that mixed development buildings can offer, they are also highly sought after due to their accessibility to a wide range of facilities.
Combining residence complexes with immediate access to attractions, supermarkets, food joints, retail, transportation, and even theme parks, mixed developments take convenience to the next level.
Pros: Living in Mixed Developments
Kemudahan
It was once common for multi-use complexes to consist of nothing but a retail platform at the foot of a residential tower. However, a significant transformation has taken place in recent years. A growing number of recent mixed-use residential complexes now include a mix of commercial and residential spaces.
Cradle-to-grave facilities can be found in some new-generation mixed-use residential developments. These kinds of initiatives provide everything a person needs to have a balanced existence in one place.
The shopping malls in a mixed development in Malaysia serve as a one-stop shop for everything from food and drink to fashion and accessories, spa and wellness, a movie theatre, a full grocery, a gym, and perhaps a snow-covered winter wonderland in the future. In the end, the goal of a mixed-use building or complex is to make life more convenient and efficient.
Green Space Allocation
Mixed developments are often admired for their ample green spaces. It provides an all-in-one living environment for residents who are looking for both the conveniences of urban living and a sense of relaxation with nature. Green spaces are among the most important social spaces in which people interact on a daily basis, whether as a family or as a community, and play an important role in maintaining the mental and physical well-being of residents. Some examples are parks and walking trails, as well as communal places that are surrounded by lush greenery.
Modern Environment
Mixed-use developments offer many amenities, including a large pool, tennis and handball courts, nurseries, gyms, day treatment centres, and all-day security surveillance. Everything from recreation to well-being can be provided to all ages, and this is the most crucial factor to keep in mind. These aspects contribute to a contemporary, civilised community’s overall level of living and quality of life.
Mixed-use complexes have been increasingly popular with younger generations and ex-pats because of their many advantages. Property investors, as well as end consumers, have historically benefited from this system.
Cons: Living in Mixed Developments
Economies of scale
Although many mixed-use complexes are massive, others are modest in size and appear to lack in most aspects. Also, even in a smaller mixed-use complex, it may be difficult to obtain the economies of scale you want, whether you are the owner or tenant.
Management Difficulties
Managing this type of property may be a huge undertaking for building management since they have more than just residential units to take care of. In addition, they have to manage an office or retail spaces too. This may be a daunting task, even if the complex is big enough to acquire many property managers.
Shared Parking
Herein lies the true catch for most renters in mixed-use properties. There are many mixed development residents with difficulty finding parking due to the high number of retail and office guests. However, there are some instances where the developer provides designated parking spots exclusively for the residents.
As a renter, we strongly advise you to look into the particulars of the parking problem and find out as much information as possible. A significant number of landlords make an effort to establish what they refer to as a floating car park. In other words, the landlord may not have enough parking spots for everyone in the complex.
Vehicle’s and Pedestrian Noise Pollution
Take the possibility of a bustling restaurant being located a few streets away from a busy shopping area that is also quite popular and draws a significant amount of pedestrian traffic. Moreover, the pedestrian and vehicle traffic that comes from people shopping, dining, working, and enjoying entertainment could provide some difficulties for the residents who live in the vicinity. Ponder about the noise caused by the honking of car horns as well as the gases that are released by their cars. All of these things might wind up making life quite difficult for people living in the area.
High Possibility of Accident
It is possible for other people who are using the road, especially junior residents and senior residents, to be struck and injured by automobiles if the speed limits in a mixed development project is not strictly regulated by the management body. It is possible that some junior citizen in the area who are playing nearby the main road because the residences are located so close to various commercial areas, such as shopping centres or marketplaces. The majority of commercial land uses, as is the case in many Malaysian mixed-development projects, are located in the core commercial districts, which are located quite a distance away from residential neighbourhoods. In these kinds of situations, there aren’t an excessive number of junior residents playing around dangerously close to the streets.
Top 5 Mixed Developments in Klang Valley
Pertukaran Tun Razak
It is intended to be a high-density mixed development that incorporates six residential buildings with over 2000 apartment units, in addition to office spaces, hotels, and commercial shops encompassing 2.2 million square metres in the downtown area.
Adding to its luxury appeal, the spectacular apartments at TRX provide access to a public park that spans 10 acres and direct connectivity to KL MRT Lines 1 and 2.
Bukit Bintang City Centre @ KL
In terms of new mixed developments, Bukit Bintang City Centre (BBCC) appears to be particularly compelling, thanks to its central position in Bukit Bintang and well-known developers. Premium pricing is likely, but savvy real estate investors are already lining up to get in on the first floor. The BBCC consists of a 1 million square foot shopping mall, offices, hotels, and most high-rise buildings are serviced residences, labelled and trademark properties geared for property investors.
Situated in the central location in the Bukit Bintang neighbourhood, which offers exceptional amenities.
Sunway Velocity @ Cheras
In the vicinity of KLCC, the newest freehold integrated development, Halaju Sunway, has just opened for business. 2 MRT stations (Cochrane and Maluri Mrt Stations), as well as a 1,000,000-square-foot shopping centre, are two of Velocity’s most appealing features.
Among investors, it is a highly sought-after property. However, a warning to investors that holding capability is required owing to the high price tags.
Bukit Jalil City @ Bukit Jalil
An attractive 50-acre freehold integrated development, Bukit Jalil City includes commercial offices, condos, a shopping complex, and a planned hotel and business building.
As part of Pavilion 2’s strategic component, the mall plans to be the next regional shopping centre and one of Klang Valley’s top shopping destinations.
The Park Sky Residence, which comprises four 40- and 46-story towers, is the primary emphasis. Prices start at RM850 per square foot and rise accordingly. There is also an 80-acre park right outside The Park Sky Residence, one of its main attractions.
Mid Valley City
Mid Valley is a mixed development featuring a mall. It is strategically positioned to have access to the boundless consumer delights offered by both Mid Valley Megamall and The Gardens Mall.
Accessibility is one of the many perks offered by the lovely homes that can be found in Mid Valley City. Furthermore, it is surrounded by well-developed neighbourhoods. An additional benefit is a newly finished bridge that connects KL Eco City and Gardens Mall, as well as the availability of the KTM Mid Valley Megamall station.
Ringkasan
Mixed development is a dynamic concept aimed at providing residents with every convenience they desire in one place. It adds variety to residential developments, accommodating a variety of uses from businesses to residents to investors.
It is relatively evident that well-designed and carefully conceptualized mixed developments continue to attract a good market, proving their appeal to investors and home buyers alike.
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